Financial Performance - For the fiscal year ending March 31, 2024, the total comprehensive income was HKD 1,227,000, compared to HKD 3,009,000 for the previous year[8]. - For the year ending March 31, 2024, the company reported total revenue of HKD 427,341 thousand, an increase from HKD 330,715 thousand in 2023, representing a growth of approximately 29.2%[32]. - The gross profit for the same period was HKD 24,127 thousand, up from HKD 16,936 thousand in 2023, indicating a growth of about 42.0%[32]. - Operating profit before tax was HKD 12,752 thousand, compared to HKD 10,460 thousand in the previous year, reflecting an increase of approximately 22.0%[32]. - The net profit for the year was HKD 1,237 thousand, down from HKD 3,018 thousand in 2023, showing a decrease of about 59.0%[32]. - The company incurred a tax expense of HKD 1,987 thousand, significantly higher than HKD 750 thousand in the previous year, marking an increase of approximately 165.6%[32]. - The company reported an increase in accounts receivable to HKD 84,630 thousand in 2024 from HKD 28,795 thousand in 2023, representing a significant rise of approximately 194.5%[55]. - The expected credit loss recorded for the year was approximately HKD 4.1 million, compared to a reversal of about HKD 31,000 in the previous year[97]. - The net profit for the year decreased from approximately HKD 3.0 million to about HKD 1.2 million[93]. Employee Costs - Total employee costs amounted to HKD 56,762,000 in 2024, an increase of 5.3% from HKD 53,884,000 in 2023[3]. - Employee costs totaled approximately HKD 56.8 million for the year ended March 31, 2024, compared to HKD 53.9 million in 2023, with 153 employees as of March 31, 2024[132]. Assets and Liabilities - The net assets as of March 31, 2024, were HKD 73,261,000, compared to HKD 72,034,000 in 2023, reflecting a slight increase of 1.7%[9]. - The company’s total liabilities increased to HKD 302,220,000 in 2024 from HKD 244,471,000 in 2023, representing a growth of 23.5%[9]. - The group’s trade and other payables totaled HKD 149,040,000 in 2024, up from HKD 52,462,000 in 2023, showing a significant increase[76]. - The outstanding borrowings due within one year were approximately HKD 148.9 million as of March 31, 2024, down from HKD 164.4 million in 2023[100]. - The current ratio remained stable at approximately 1.2 times for both March 31, 2023, and March 31, 2024[100]. - The debt-to-equity ratio decreased from approximately 62.3% on March 31, 2023, to about 57.8% on March 31, 2024[100]. Revenue Sources - The group reported revenue from residential construction services of HKD 373,819,000 for the year ending March 31, 2024, compared to HKD 234,797,000 in 2023, representing a growth of 58.9%[65]. - Revenue from commercial construction services decreased to HKD 53,522,000 in 2024 from HKD 95,918,000 in 2023, a decline of 44.3%[65]. - The total revenue for the year ended March 31, 2024, increased by approximately HKD 96.6 million or 29.2% to about HKD 427.3 million, primarily due to the completion of two large residential projects[94]. - The company generated approximately HKD 373.8 million from residential projects, accounting for about 87.5% of total revenue, while commercial projects contributed approximately HKD 53.5 million or 12.5%[94]. Financing Costs - Financing costs rose to HKD 10,765,000 in 2024, up from HKD 6,972,000 in 2023, indicating a 54.5% increase[22]. - Financing costs increased from approximately HKD 7.0 million to about HKD 10.8 million, mainly due to rising average interest rates on bank loans[98]. Dividends - The company reported no dividends paid or proposed for the fiscal year ending March 31, 2024, consistent with 2023[4]. - The company did not recommend any final dividend for the year ended March 31, 2024, consistent with 2023[128]. Compliance and Regulations - The company has not applied for any temporary exemptions related to accounting standards, indicating compliance with new regulations[14]. - The company has applied new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the consolidated financial statements for the year ending March 31, 2023[152]. - The company’s financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and relevant disclosure requirements[143]. - The company is subject to the GEM listing rules, which indicate a higher investment risk compared to other listed companies[146]. Future Outlook - The company continues to operate under the going concern basis, expecting to have sufficient resources for the foreseeable future[50]. - The company remains optimistic about its core business despite global economic slowdowns, aiming to enhance sales efforts and expand its customer base[86]. Miscellaneous - The company has not reported any significant impact on its financial position due to changes in accounting policies related to long-term service obligations[157]. - The company’s shares were suspended from trading on July 2, 2024, pending the release of the full-year results for 2024[140]. - The company has submitted an application to resume trading of its shares on August 1, 2024[140]. - The audit committee, consisting of three independent non-executive directors, oversees the appointment and dismissal of external auditors and reviews financial statements[146]. - The company has not held any significant investments, acquisitions, or disposals during the reporting period[119].
宝发控股(08532) - 2024 - 年度业绩